Purchases made on credit not recorded at all would affect _______

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Question:
Purchases made on credit not recorded at all would affect _______

1.Purchases account

2.Suppliers account

3.Purchases account and suppliers account

4.Wages account

Posted Date:-2021-10-28 08:59:52

More MCQS Questions and answers

  1. _______ is the person who prepares Bank Reconciliation Statement.
  2. A bill drawn and accepted for a genuine trade transaction is termed as a _______ bill.
  3. Accounting principles are generally based on _______
  4. Any amount received towards endowment fund is a ________receipt.
  5. Bills payable book is to keep a record of __________
  6. Cancelling the original bill and drawing a fresh acceptance is known as ______
  7. Credit sales are recorded in ______
  8. Daily Record of Transaction means
  9. Debit balance in cash book means ______
  10. Drawings account is related to ______
  11. Error of commission do not allow _______
  12. If a cheque sent for collection is dishonoured, the debit is given to _______
  13. In accounting, the benefit giving aspect is said to be
  14. Income and expenditure account is a _____
  15. Interest on capital is credited to ______ account.
  16. Non-trading institutions prepare ________
  17. Non-trading institutions prepare _________
  18. Outstanding salaries are shown as _______
  19. Preliminary expenses are an example of ________
  20. Premium received on issue of shares is a ______________. tempor
  21. Prepaid insurance is _______
  22. Provision for bad debts is calculated on _______
  23. Purchases made on credit not recorded at all would affect _______
  24. Receipts and payments account is a _______
  25. Returns outward book makes a record of _______
  26. Revenue expenditure is intended to benefit _______
  27. Sale of old newspaper is to be shown on the credit side of the ______
  28. Sales of old material must be shown on the credit side of ______
  29. State which of the following errors will not be revealed by the trial balance _______
  30. The amount brought in by the proprietor in the business should be credited to:
  31. The appropriate book to record credit purchase of machinery is _______
  32. The assets of a business can be classified as _______
  33. The balance of cash account indicates _______
  34. The balance of the petty cash book is ______
  35. The balance of the petty cash book is ______
  36. The discount column of a triple column cash book records _______
  37. The Letter "c" is shown in the Cash book which means _______
  38. The main aim of ______________ accounting is to ascertain cost relating to the various activities of the business and to have cost control.
  39. The person to whom the amount has to be paid is known as _______
  40. The person to whom the bill is endorsed is called ______
  41. The person who writes out the bill of exchange is known as
  42. The preparation of a Trial balance helps in ______
  43. The process of recording financial transactions in the journal is called ______
  44. Wages is an example of ________
  45. Which account is generally used for rectification of errors?
  46. Which item is shown on the debit side of a trial balance?
  47. Which one of the following is capital expenditure?
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